What is the ending inventory under variable costing? Financial accounting Given the following data for LumaTech Inc.:⚫ Beginning Inventory in Units: 0•⚫ Units Produced: 6,000•⚫ Units Sold: 5,000⚫ Sales: $450,000. Material Cost (unit level/variable): $120,000Variable Conversion Cost Used: $60,000•Fixed Manufacturing Cost (Facility Level): $90,000⚫ Indirect Operating Cost (fixed): $100,000What is the ending inventory under variable costing?Show your complete solution.

Step 1: Definition of Variable Costing Ending InventoryVariable costing is a method in which only…

Answered: Given the following data for LumaTech…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The carrying value of ending inventory under variable costing would be: present as is if higher or present it in comma if it is less ex: (200) Under absorption costing, the cost of goods sold would be:
The carrying value of ending inventory under variable costing would be:A. P1,400 higher than under absorption costing B. P1,400 less than under absorption costing C. P800 less than under absorption costingD. the same as under absorption costing
Answer questions 3 & 4 using the following information: Rebel Company manufactures a single product and has the following cost structure: Variable cost per unit Fixed Costs Production Production P32,000 Selling & administrative 3 Selling & administrative 16,000 During the year, 8,000 units were produced, and 7,800 units were sold. 3. The carrying value of ending inventory under variable costing would be: present as is if higher or present it in comma if it is less ex: (200) Your answer 4. Under absorption costing, the cost of goods sold would be: Your answer
X Corp produces single product. Income under variable costing and absorption costing are 36,400 and 25,600, respectively. Product cost per unit under Variable costing and absorption costing are 18 and 20 per unit, respectively. Ending inventory is 2,600 units, what is the beginning inventory in units?A. 5,400B. 2,800C. 8,000D. 13,400
Compute the following: Operating income under variable (direct) costing method Operating income under absorption costing method Operating income under throughput costing method
Required: 1. The carrying value of ending inventory under variable costing would be? 2. Under absorption costing, the cost of good sold would be?
5. Under 75% sale assumption, using absorption costing, the ending inventory balance is? 6. Under 75% sale assumption, using variable costing, the ending inventory balance is? 7. Under 75% sale assumption, using variable costing, the ending inventory balance can be calculated by: (150,000 + 75.000+ 25,000) x 25%a) True b) False
The following cost details relate to one unit of product Zen. (£) Variable materialsVariable labourVariable production overheads Fixed production overhead Variable selling overhead Fixed selling overheadTotal cost 20.40, 18.20, 3.60 ,25.88 ,15.58 ,7.56 ,91.22 In a marginal costing system, what would the value of a closing inventory of 5,000 units of product Zen be?
please provide answer of this General accounting question
Can you explain this general accounting question using accurate calculation methods?
The following cost details relate to one unit of product Zen. (£) Variable materialsVariable labourVariable production overheads Fixed production overhead Variable selling overhead Fixed selling overheadTotal cost 20.40 18.20 3.60 25.88 15.58 7.56 91.22 In a marginal costing system, what would the value of a closing inventory of 5,000 units of product Zen be? a) £288,900 b) £211,000 c) £193,000 d) £456,100
Calculate net income under full costing on these general accounting question

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